USA Financial Formulas Takes $632,000 Position in FedEx Corporation $FDX

USA Financial Formulas acquired a new stake in FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,774 shares of the shipping service provider’s stock, valued at approximately $632,000.

Other large investors also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new position in FedEx in the second quarter worth $586,000. Canada Post Corp Registered Pension Plan grew its stake in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after purchasing an additional 3,138 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after purchasing an additional 6,864 shares during the period. North Dakota State Investment Board purchased a new position in shares of FedEx in the 4th quarter valued at about $2,122,000. Finally, First Nebraska Trust Co acquired a new stake in shares of FedEx in the first quarter valued at about $10,675,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Key FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Citigroup assumed coverage on shares of FedEx in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Barclays lowered their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Evercore set a $165.00 price target on FedEx in a research report on Friday, June 26th. Finally, Jefferies Financial Group assumed coverage on FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Trading Down 1.4%

Shares of FDX opened at $334.56 on Friday. The stock has a fifty day moving average of $319.39 and a two-hundred day moving average of $351.07. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The company has a market capitalization of $79.15 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.